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Fortis defers board meet scheduled for Q4 results

Wednesday, May 30, 2018, 9:50
This news item was posted in Business category and has 0 Comments so far.

NEW DELHI: Fortis Healthcare has deferred to June 11 the board meeting to consider its financial results for the fourth quarter and the financial year ended March 31, 2018, the company told stock exchanges on Wednesday.This is because Fortis is deliberating on conclusions from an internal investigation launched into alleged fraudulent related party transactions, according to the healthcare group.Fortis is currently in the midst of finding an investor for it’s liquidity and strategic requirements. This includes the funding of an acquisition of RHT Health Trust assets and purchasing over 30% stake held by private equity investors in SRL, Fortis’ diagnostics arm.On Tuesday, the board announced that it was initiating a fresh bidding process to close a deal.

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